The fundraising platform offers luxurious homes across the country as prizes for entering its draws. So is it legit and how much does it cost to enter?
Nestled in the charming Cotswold countryside lies a furnished five bedroom home. It’s a short drive from the historical city of Oxford and is accompanied by a modern home office, spacious annexe, and an outdoor seating area.
While this opulent home is worth approximately £3 million it isn’t owned by a multi-millionaire. Instead it’s currently lying vacant, waiting to be won through an Omaze prize draw*.
Omaze, an American founded company, has become famous over recent years for offering up extravagant homes across the country as prizes in its raffle-style draw. So is it legit and what are your odds of winning?
Below we explain:
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*This article contains affiliate links which earns us revenue
Is Omaze legit?
Omaze* launched in the UK in 2020, but was previously founded in the US. It is a legitimate “for-profit” fundraising company which runs these draws to make money for itself and a chosen charity.
Compared to the US, its business model works differently in the UK. Irrespective of its entry sales, Omaze guarantees a minimum £1,000,000 donation to every charity partner. In other words, even if the draw makes a loss, Omaze will still need to budget in a £1 million donation.
This means after accounting for other expenses the rest is kept as profit. Expenses include budgeting for its prize money, purchasing the prize-winning home, salaries and running a mass-marketing campaign to promote its draw.
Has anyone ever won an Omaze draw?
Yes, when the Times Money Mentor reached out to Omaze they confirmed so far there have been 22 grand prize winners.
Last year it offered up its biggest grand prize ever, a £3.5 million Chelsea Townhouse in West London. According to Omaze, this was won by Oceanne Belle, a mature nursing student from Barking.
“It’s a very good feeling to know that you’ve got your own home…I know firsthand how incredible the work the NHS does is – I owe my life to them,” she said.
This is one of seven house draws which took place over 2023.
How does Omaze work?
To enter Omaze’s prize draw* you’ll need to buy an “entry” into the draw. Each purchase you make comes with a code – a unique 13 digit number which you’ll need to claim your prize.
These codes can be found online, or via the confirmation email you’ll get once you purchase your entry.
Entry codes are given per purchase, so if you make a bulk purchase of 320 entries for £150 you’ll receive a single code which is logged into Omaze’s database 320 times. However, each postal entry warrants its own code.
Each person is limited to £500 worth of entries each month which can’t be amended or removed.
What can I do with the winning home?
Winners of one of Omaze’s homes usually have three options.
Firstly, they can live in the home. Given that costs of running these properties are higher than the average UK property, Omaze gives the winner a cash prize to help with maintenance costs.
For the Cotswolds draw this sits at £100,000.
Secondly, they can rent the home out. For the Cotswolds home, it’s estimated this will bring in between £5,000 and £7,000 a month while the previous London III House was estimated to bring in £12,350 in the same period.
But remember that this money won’t be pure profit. Rental income is subject to income tax, so if you ever win one of these homes you’ll need to factor this into your decision.
Finally, these winners can sell the home and walk away with the cash.
Read more: Buy-to-let mortgages: what you need to know
How much does it cost to enter Omaze?
There are several ways to enter the Omaze draw.
The first is a traditional lottery style entry where you buy a set of entries. The cheapest batch you can buy is £10 for 15 entries, which works out to around 66p per entry.
Below we’ve listed the value of all their packages:
| Price | Number of entries | Price per entry |
| £10 | 15 | 66p |
| £25 | 40 | 63p |
| £50 | 85 | 59p |
| £150 | 320 | 47p |
What about other entries?
Alternatively, postal entries are free – but there is a catch. You’ll be limited to one entry per postcard, so you can’t send out a number of entries in bulk. Each entry needs to be in a separate envelope and contain:
- Your full legal name
- Address
- Postcode
- And the prize draw you wish to enter
While these entries are free, you’ll need to pay for postage for each submission. With 2nd class stamps costing 75p each it works out to be more cost effective to buy your entries online.
The final means of entering is to take out an Omaze subscription. This will buy you a set amount of entries each month and has the added benefit of guaranteeing your place into its early bird competitions. These are additional competitions to the main prize draw where you often stand the chance of earning a cash prize.
Previous Early Bird Prizes have included a Porsche 911 or £250,000 in cash. Omaze subscribers with a £20+ subscription will also be entered into an exclusive Monthly Subscriber Cash Draw for the chance to win £50,000.
You can cancel your subscription at any time, and the packages are ordered as follows:
| Price | Number of entries | Price per entry |
| £10 | 30 | 33p |
| £20 | 75 | 27p |
| £30 | 150 | 20p |
Compared to single purchases, you can get double the amount of entries from a subscription.
Remember, the limit you can spend each month is £500. So in theory you can buy the £30 monthly subscription 16 times.
But just because this is possible doesn’t mean you should do it, and you should always spend within your means.
What are your odds of winning?
When writing this piece, the Times Money Mentor also reached out to Omaze to find out how many people entered their last prize draw.
Omaze didn’t disclose this information, which means it is unclear what the previous odds are of winning a luxurious home.
Instead, a current listing on their website says the odds for the Somerset House draw varies on the number of entries it receives. So the more entries it receives lessens your chance of being the lucky winner.
If you would prefer to enter a draw where you know the odds of winning the grand prize consider other options, like the NS&I’s Premium Bonds. It hosts a monthly prize draw where you have a 21,000 to one chance of winning £1 million.
In addition, you could win a range of other prizes ranging from £25 to £100,000. And since it’s considered a savings account you can withdraw your money at any time.
Read more: Are NS&I Premium Bonds worth it?
FAQs
When is the Omaze draw?
Omaze’s Cotswold House draw* result will be known on 1 March.
How will I know if I’ve won?
Omaze will contact the winners to let them know they’ve won. If you’re a winner you’ll have 96 hours to claim your prize or else it’ll be forfeited.
For the Somerset House, the winning ticket number is #6032113893462.
Do I need to pay for conveyancing costs or stamp duty?
No, Omaze covers these fees if you’re a winner.
What other prizes can I win?
In addition to the Grand Prize, Omaze holds an “Early Bird” draw to entice fresh entrants. This is usually a cash prize, with the current “Early Bird” prize sitting at £250,000. To ensure you’ve entered, make sure you buy an entry before Wednesday 14th February, or Valentine’s Day.
Important information
Some of the products promoted are from our affiliate partners from whom we receive compensation. While we aim to feature some of the best products available, we cannot review every product on the market.
